Article 57. Solicitation of Subscribers of Shares to Be Issued at the Time of Incorporation

(Compare Article 174 of the former Commercial Code)

1. Incorporators may, based on the provisions of this sub-section, decide to the effect that there will be a solicitation for subscribers to shares to be issued at the time of incorporation.

2. When a solicitor seeks to decide to the effect that there will be the solicitation of the previous paragraph, there must be the agreement of all the incorporators.

Disclaimer: This translation is for general reference purposes only and is provided on an “as is” basis with no warranties made whatsoever. Attorney Roderick H. Seeman (licensed in the USA) shall not be responsible for any consequences resulting from the use of this translation. Reliance must be placed on the original Japanese text of the laws. In the text of the translation article headings are added in parenthesis are not in the Japanese language original and are added only for the purposes of enhanced comprehension.

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